ETH.USDT (Y21.P1.E10).Looking for the next entrance level?
Hi Traders,
We can agree that ETH has lately been performing disappointingly after a impressive run.
Many are HODLing this, I'm not (recently when it was clear it was losing ground to BTC).
I tend to flip between BTC and ETH regularly, especially when BTC dominance gives clear direction.
Having said that, I'm currently monitoring ETH as its got much more to go based on its eco system.
On many occasions, it comes from behind and gets people by surprise.
FYi, I'm yet to let go of ADA, DOT for ETH any time soon. But as a trader, when the signs are there, I will do what is required...no personal favorites although these 3 are big projects.
Lets look at the chart.
We have the weekly chart that helps us find those resistance and support levels, and on this daily you can see what they are.
Along with fib. levels and other structural formations, we can see that the all time high which acted with resistance should be a strong support level.
This equates to the weekly support level.
Note the blue trend line acting as support on many occasions, this has confluence to the EMAs, fib levels and previous resistance to the ATH.
Indicators show on the daily, we have downward pressure however when we look at the support level and the indicators, we can see it likely to find the support in sync with the indicators for a reversal.
There might be a chance to buy ETH in the 1250, if your lucky for we won't see prices come this low for some time.
All the best,
S.SAri
We can agree that ETH has lately been performing disappointingly after a impressive run.
Many are HODLing this, I'm not (recently when it was clear it was losing ground to BTC).
I tend to flip between BTC and ETH regularly, especially when BTC dominance gives clear direction.
Having said that, I'm currently monitoring ETH as its got much more to go based on its eco system.
On many occasions, it comes from behind and gets people by surprise.
FYi, I'm yet to let go of ADA, DOT for ETH any time soon. But as a trader, when the signs are there, I will do what is required...no personal favorites although these 3 are big projects.
Lets look at the chart.
We have the weekly chart that helps us find those resistance and support levels, and on this daily you can see what they are.
Along with fib. levels and other structural formations, we can see that the all time high which acted with resistance should be a strong support level.
This equates to the weekly support level.
Note the blue trend line acting as support on many occasions, this has confluence to the EMAs, fib levels and previous resistance to the ATH.
Indicators show on the daily, we have downward pressure however when we look at the support level and the indicators, we can see it likely to find the support in sync with the indicators for a reversal.
There might be a chance to buy ETH in the 1250, if your lucky for we won't see prices come this low for some time.
All the best,
S.SAri
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.